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VETERAN AFFAIRS CLINIC 11985 Heritage Oak Pl 18,702 SF 84% Leased Office Building Auburn, CA 95603 $3,950,000 ($211.21/SF) 7.22% Cap Rate

INVESTMENT HIGHLIGHTS

  • Long-Term Federal Tenancy: The VA occupies ~75% of the space on a new 4-year lease through 2029, ensuring stable, government-backed cash flow.
  • Attractive Basis: Offered at $211/SF—an exceptional value for a near-stabilized medical office in a high-demand Lake Tahoe submarket.
  • Value-Add Opportunity: ~3,500 SF of vacant space offers near-term upside through lease-up, boosting occupancy and cash flow.
  • Established Medical Hub: Prime healthcare corridor with 12+ medical users and major retailers, boosting demand and traffic.

EXECUTIVE SUMMARY

David Harrington
License No. 02168060 (CA)
(866) 889-0550
Matthews Real Estate Investment Services, Inc
2321 Rosecrans Ave.,
Suite 1225, El Segundo, CA 90245

PROPERTY FACTS

Sale Type
Investment
Property Type
Office
Building Size
18,702 SF
Building Class
B
Year Built
1989
Price
$3,950,000
Price Per SF
$211.21
Cap Rate
7.22%
NOI
$285,190
Percent Leased
84%
Tenancy
Multiple
Building Height
2 Stories
Typical Floor Size
9,351 SF
Building FAR
0.29
Lot Size
1.50 AC
Zoning
C2DC

AMENITIES

  • Natural Light

SPACE AVAILABILITY

  • SPACE
  • SIZE
  • SPACE USE
  • CONDITION
  • AVAILABLE
  • 2nd Fl-Ste 200
  • 1,480 SF
  • Office
  • Full Build-Out
  • Now

Fully built-out office space with private offices and a reception area.

  • 2nd Fl-Ste 210
  • 700 SF
  • Office
  • -
  • Now
  • 2nd Fl-Ste 230
  • 1,280 SF
  • Office
  • Full Build-Out
  • Now

Fully built-out office space with an open-plan layout.

Space Size Space Use Condition Available
2nd Fl-Ste 200 1,480 SF Office Full Build-Out Now
2nd Fl-Ste 210 700 SF Office - Now
2nd Fl-Ste 230 1,280 SF Office Full Build-Out Now

2nd Fl-Ste 200

Size
1,480 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 210

Size
700 SF
Space Use
Office
Condition
-
Available
Now

2nd Fl-Ste 230

Size
1,280 SF
Space Use
Office
Condition
Full Build-Out
Available
Now

2nd Fl-Ste 200

Size 1,480 SF
Space Use Office
Condition Full Build-Out
Available Now

Fully built-out office space with private offices and a reception area.

2nd Fl-Ste 230

Size 1,280 SF
Space Use Office
Condition Full Build-Out
Available Now

Fully built-out office space with an open-plan layout.

LINKS

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Walk Score®
Very Walkable (75)
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PROPERTY TAXES

Parcel Number 051-300-034 Improvements Assessment $1,657,095
Land Assessment $836,004 Total Assessment $2,493,099

PROPERTY TAXES

Parcel Number
051-300-034
Land Assessment
$836,004
Improvements Assessment
$1,657,095
Total Assessment
$2,493,099
(615) 261-9954

Still interested?

Contact the brokers for more information about this property

CONTACTS

  • Ethan Edmiston
    Ethan Edmiston
  • Clay Smith
    Clay Smith

  • Listing ID: 37353053

  • Date on Market: 8/20/2025

  • Last Updated:

  • Address: 11985 Heritage Oak Pl, Auburn, CA 95603

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Ethan Edmiston
(615) 261-9954

Clay Smith
(214) 692-2216

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